N.J. Admin. Code § 14:3-2A.3

Current through Register Vol. 56, No. 18, September 16, 2024

Section 14:3-2A.3 - Annual baseline spending levels

(a) A utility seeking to establish an Infrastructure Investment Program shall, within its petition, propose annual baseline spending levels to be maintained by the utility throughout the length of the proposed Infrastructure Investment Program. These expenditures shall be recovered by the utility in the normal course within the utility's next base rate case.

(b) In proposing annual baseline spending levels, the utility shall provide appropriate data to justify the proposed annual baseline spending levels, which may include historical capital expenditure budgets, projected capital expenditure budgets, depreciation expenses, and/or any other data relevant to the utility's proposed baseline spending level.

(c) Upon approving a utility's proposed Infrastructure Investment Program, the Board shall establish, within its order approving the Program, annual baseline spending levels for each year of the Infrastructure Investment Program. In establishing the annual baseline spending levels, the Board shall set forth, within its order approving the Infrastructure Investment Program, the factors used to establish the annual baseline spending levels. The Board, in its discretion, may consider a utility's historical capital expenditure budgets, projected capital expenditure budgets, depreciation expenses, or any other data deemed relevant by the Board in establishing the annual baseline spending levels.

(d) Only expenditures that are in excess of the annual baseline spending levels established by the Board and that meet the other requirements of this subchapter shall be eligible for accelerated recovery pursuant to N.J.A.C. 14:3-2A.6.

N.J. Admin. Code § 14:3-2A.3

Adopted by 50 N.J.R. 630(a), effective 1/16/2018